International Steel posts loss in 1Q FY13 – Alfalah Securities Limited

Karachi, October 16, 2012 (PPI-OT): International Steel has announced 1QFY13 results posting loss after tax of PKR 12.64 mn (LPS: PkR 0.03) which is better as against loss after tax of PkR 92.65 mn (LPS: PKR 0.21) in 1QFY12.

According to Alfalah Securities Limited, the revenues surged by 4.3% to PkR 3,228 mn in 1QFY13 while the gross profit was higher by 49.15% to PkR 298.87 mn which led to lower the losses of the company. The financial charges jumped by 39.15% to PkR 268.12 mn in 1QFY13 which eroded the profits of International Steel. The stock is currently at PkR 12.75 in the market.